We bought our first duplex, thanks biggerpockets!

[Damien L.]

Hey biggerpockets community!

It's a done deal we have closed on our first duplex and first investment property.  We are very excited and a little (or a lot) nervous at the same time.

We bought our duplex for roughly $80k.  It's a 1/1 and 2/1.

Rents:

Targeting $650 for one bedroom and $750 for two bedroom

Utilities:

Heat and Electric - Tenant pays

Water - Will work on RUBS

Renovation/Updates:

Kitchen - update cabinets with something clean and simple.  Buy range and fridge.

Bathroom - update one vanity and redo tile

Outside - basic landscaping, some trees need to be dealt with but that's not an emergency.

There is also a large detached garage on the property.  We were thinking of offering the tenants one spot per unit.  The garage bays are not separated.  I don't see an issue with that, is there something I am not thinking off?

PS Thanks to Biggerpockets for guiding us and helping us make it to our first deal!

[Rob Chiang]

Congrats!  

The snowball starts with 1 snowflake.  =)

Compound interest...woo hoo!!